Gordon A. Rich Memorial Scholarship
Requirements and Selection Process
A) Applicants must be dependent children of full-time employees in the financial services industry (commercial banks, investment banks, securities brokerage firms, insurance companies, fund and asset management companies, credit card and finance companies and similar businesses as determined by the Foundation). Employees must be presently employed with five years of experience OR no longer employed in this field but had ten years of experience which ended no longer than five years prior to the GAR Scholarship application closing date (which is located on the top of the application).
B) Students must be graduating high school seniors who are enrolling as full time first year students in pursuit of a four-year bachelor's degree at an accredited college/university in the United States.
C) Students must have a minimum grade point average of 3.5 (on a 4.0 scale) and rank in the top 20% of their class.
D) Students must demonstrate financial need.
E) Students must be a US citizen or legal resident.
Continuing Eligibility/Renewal Requirements
The Gordon A. Rich Memorial Foundation requires an annual review of each scholarship award to determine renewal eligibility. Recipients must maintain full-time enrollment status and be in good standing with their college to have the award renewed for the next academic year. GAR Scholars are expected to exhibit satisfactory citizenship in both the academic community and in the community at large. Therefore, recipients may not be on any form of academic probation or suspension. In December of each year, a renewal form is sent to each recipient. In April of each year, a letter is sent to each recipient requesting confirmation of full-time enrollment status and intent to maintain that status, a current academic transcript, and a detailed update on the courses, projects, and activities with which the recipient has been involved during the current award year.
All GAR scholars are eligible for a special award – the "Parkman Prize." This $5,000.00 award, named after one of GAR's most generous donors, is given to the scholar with the highest GPA in each academic year.
An independent scholarship committee - Scholarship Management Services - will be evaluating student credentials. Members of the GAR Foundation are not part of the initial selection process. From the pool of applicants, a select group of potential GAR Scholars will then be presented to the GAR Foundation. They will in turn select the GAR scholarship winners.
All materials submitted to support a scholarship application are used only in the selection process. The folder of a scholarship recipient will remain in active status during the period the scholarship is in force and will be retained for one year thereafter. All records are confidential and available for reference by Scholarship Management Services and the GAR Foundation.
Scholarship application forms and directions for completing the forms can be accessed through our website. Applications will require:
A) Applicant Data
B) Parent/Guardian Information
C) Applicant Appraisal to be completed by a high school counselor or a teacher from your junior or senior year
D) An essay response to a given prompt (500 words or less)
E) An official transcript of grades from each school attended
F) Cumulative GPA
G) Standardized test scores (SAT I or ACT)
H) Applications and all supporting materials must be submitted directly to Scholarship Management Services.
Selection Criteria for "GAR Scholars"
A) Academic record and grade point average
B) High school activities and demonstrated leadership
C) Scores on standardized test (either ACT or SAT I test scores)
D) Responses to questions on the application form
E) Demonstrated financial need
GAR Scholars must have high grades and standardized test scores; not necessarily the highest, but in the top 20%. It is essential that the applicant has already demonstrated academic excellence and/or creativity in some subject area of inquiry. An example would be experience or achievements in research. GAR is looking for students who have challenged themselves with their academic programs and who demonstrate a passion for learning.
GAR is seeking the student with an "extra dimension" which can often be demonstrated through extracurricular activities. GAR considers both "well rounded" people who have contributed in many different ways to the lives of their schools or communities as well as those who have pushed a single endeavor to the highest level of recognized achievement. Extracurricular successes can come in virtually limitless forms. Examples include athletics, community service, media and journalism, and the visual and performing arts.
GAR Scholars must demonstrate financial need. GAR's mission is to help excellent students with financial need to face less educational debt on graduation. GAR scholarships will enable a student to have more time to concentrate on the academic and extracurricular opportunities that made them GAR Scholars in the first place.
Financial need will be determined by examining the information provided by each student on the application.
There will be no such thing as a "typical" GAR Scholar. GAR Scholars will all have certain similarities: exceptional talent, dynamism, passion and financial need. But as a group they will reveal a diverse mix of activities, interests and accomplishments as well as religion and ethnicity.
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